Yousif Capital Management LLC Sells 964 Shares of Intercontinental Exchange Inc. $ICE

Yousif Capital Management LLC cut its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 1.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 77,996 shares of the financial services provider’s stock after selling 964 shares during the quarter. Yousif Capital Management LLC’s holdings in Intercontinental Exchange were worth $14,310,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Intercontinental Exchange by 1.4% during the first quarter. Vanguard Group Inc. now owns 52,940,356 shares of the financial services provider’s stock valued at $9,132,211,000 after acquiring an additional 712,179 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Intercontinental Exchange by 491.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock valued at $1,109,780,000 after acquiring an additional 5,345,388 shares during the period. Amundi raised its holdings in Intercontinental Exchange by 14.7% during the first quarter. Amundi now owns 6,315,706 shares of the financial services provider’s stock valued at $1,060,574,000 after acquiring an additional 810,938 shares during the period. Independent Franchise Partners LLP raised its holdings in Intercontinental Exchange by 0.5% during the first quarter. Independent Franchise Partners LLP now owns 6,192,424 shares of the financial services provider’s stock valued at $1,068,193,000 after acquiring an additional 31,588 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of Intercontinental Exchange by 113.9% during the first quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider’s stock valued at $1,025,230,000 after purchasing an additional 3,165,381 shares in the last quarter. 89.30% of the stock is owned by institutional investors.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total transaction of $686,570.50. Following the completion of the transaction, the general counsel owned 46,293 shares in the company, valued at $8,255,430.69. The trade was a 7.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $183.09, for a total value of $27,463,500.00. Following the transaction, the chief executive officer owned 1,951,705 shares of the company’s stock, valued at $357,337,668.45. This trade represents a 7.14% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 240,956 shares of company stock valued at $43,789,542. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ICE has been the subject of a number of research analyst reports. Barclays restated an “overweight” rating and set a $201.00 price objective (down previously from $212.00) on shares of Intercontinental Exchange in a research report on Wednesday, October 8th. Raymond James Financial upgraded Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price objective for the company in a research report on Monday. Keefe, Bruyette & Woods upgraded Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. Piper Sandler raised their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. raised their price objective on Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $199.60.

Intercontinental Exchange Trading Up 0.9%

ICE opened at $158.85 on Tuesday. The firm has a market cap of $90.93 billion, a P/E ratio of 30.49, a P/E/G ratio of 1.93 and a beta of 1.08. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock has a 50-day moving average of $173.41 and a 200 day moving average of $173.99.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.77 by $0.04. The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The firm’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the business posted $1.52 earnings per share. As a group, research analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.